Keep pulling the thread on Avishai Abrahami.
Wix's Base44 product has well over $150 million in Annual Recurring Revenue (ARR).
Wix generates approximately $400 million a year in free cash flow.
Avishai Abrahami believes Salesforce's primary value and competitive moat is the trust large enterprises place in it to hold their customer data, not its CRM functionality.
Wix has developed and released its own custom AI model for Base44 by fine-tuning and combining other models.
Wix executed a stock buyback because it had $1.5 billion in cash and no plans for a major acquisition due to its focus on Base44 and a new product.
Wix has a total of approximately 3,500 employees, with customer support being its largest department.
Wix built its own AI for customer support, but Avishai Abrahami states that it "doesn't work."
Wix tested many third-party AI customer support solutions but found that none of them worked for their needs.
Avishai Abrahami believes that LLMs are not very good at reasoning and are better at collecting and reframing data, which is why he is not concerned they will replace all white-collar jobs.
Avishai Abrahami asserts that current LLMs cannot be used for scientific research in fields like astrophysics because they lack the necessary simulation and modeling capabilities of platforms like DeepMind.
Avishai Abrahami has revised his view on AI and now believes it will take much longer than he previously anticipated for AI to replace human jobs.
Avishai Abrahami predicts that Base44's headcount will grow to between 800 and 1,000 employees in the next two years, with the majority being engineers.